Aena Sme Sa · BME:AENA
Aena Sme Sa — 9M 2023 Earnings Presentation
34 slides from Aena Sme Sa's earnings presentation, Nov 2, 2023
Slide 1: Results Presentation
Results Presentation For the nine-month period ended on 30 September 2023 2 November 2023
Slide 2: Disclaimer
Disclaimer 2 This report shows the most important data concerning Aena S.M.E., S.A. and its The Presentation contains information and statements on forecasts regarding the subsidiaries (‘Aena’ or ‘the Company’) and its management during the first nine months Company and its group (the ‘Information a
Slide 3: Key highlights
01 02 03 04 Key Business Financial Appendices highlights trends results
Slide 4: Key highlights
Key highlights 4 Traffic: Passenger traffic across Aena Group1 increased to 240.0 million (up 17.4% Commercial activity: In the first nine months of 2023, there has been a significant compared to 2022), which implies a recovery of 100.8% of the 2019 traffic. At increase versus 2019 commercial activi
Slide 5: Key highlights
Key highlights 5 Passengers1 (m): +17.4% Total Revenue (€m): +19.9% Spanish Network 238.1 240.0 Driven by aeronautical 3,779.1 204.4 revenue (+16.6%), 3,448.8 Luton 10.3 13.9 10.4 10.8 3,152.7 12.5 commercial revenue 9.9 (+23.7%) and Northeast Brazil international segment Airport Group (ANB) 214.0 2
Slide 6: Key highlights: Performance by business area
Key highlights: Performance by business area1 6 Airports 9M 2023 Aeronautical Commercial Real estate services International 2.1% 12.0% 55.9% Total revenue €3,779.1m 30.0% +19.9% €2,114.0m €1,134.6m €77.6m €442.4m (+16.2%) (+23.7%) (+18.4%) (+29.1%) 1.8% 15.5% 69.1% Total expenses 13.1% €2,269.4m +2.
Slide 7: Business trends
01 02 03 04 Key Business Financial Appendices highlights trends results
Slide 8: Traffic data
Traffic data 8 Passengers, aircraft movements and cargo Monthly trend in passenger traffic1 Var. % Var. % Passengers (m) 2022 Spanish Network 9M 2023 9M 2022 9M 2019 9M23/9M22 9M23/9M19 Passengers 216,647,764 184,200,389 17.6% 213,950,214 1.3% Monthly variation (%) 2023 Operations 1,834,101 1,686,65
Slide 9: Traffic data
Traffic data 9 Breakdown of passenger traffic1 by markets Passenger traffic1 by airports and groups of airports Total 9M 2023 Europe (excluding Spain) 9M 2023 Airports/ Passengers(1) Var. Share % Var. % Var. Groups(2) (m) (%) (%) Domestic(3) International(3) 1.7% 1.3% 0.2% (27.6% in 2.5% 9M 2019) 3.
Slide 10: Revenue ratios per passenger
Revenue ratios per passenger1 10 2019 2022* 2023 AENA S.M.E., S.A. Q1 Q2 Q3 Q4 2019 Q1 Q2 Q3 Q4 2022 Q1 Q2 Q3 Passengers (m) 52.7 74.7 85.6 61.1 274.2 37.8 66.8 78.9 59.4 242.9 53.6 75.5 86.9 Total Revenue 832.7 1,105.3 1,253.2 968.3 4,159.5 661.2 968.6 1,132.1 922.6 3,684.5 859.9 1,144.3 1,272.8 (A
Slide 11: Commercial revenue summary
Commercial revenue summary1 11 Commercial and Real Estate Services Revenue Variation 2023/2022 Variation 2023/2019 (Millions of euros) 9M 2019 9M 2022* 9M 2023 € million % € million % Total business activity 999.5 988.3 1,173.1 184.8 18.7% 173.6 17.4% Fixed and Variable Rents invoiced and collected
Slide 12: Ordinary commercial revenue
Ordinary commercial revenue1 12 Business area Revenue Variation (Thousands of euros) 9M 2023 9M 2022* € thousand % Duty-Free Shops 285,749 241,297 44,452 18.4% Food and beverage 242,593 184,463 58,130 31.5% Specialty shops 99,552 61,644 37,908 61.5% Car parks 134,557 106,150 28,407 26.8% Car rental
Slide 13: Fixed and Variable Rents invoiced and collected in the period
Fixed and Variable Rents invoiced and collected in the period1 13 Fixed and Variable Rents invoiced and collected in the period (thousands of euros) FIRST HALF THIRD QUARTER CUMULATIVE TO SEPTEMBER Business areas Variation Variation Variation Variation Variation Variation 2019 2022 2023 2023/2022 20
Slide 14: Minimum Annual Guaranteed Rent (MAG)
Minimum Annual Guaranteed Rent (MAG)1 14 Minimum Annual Guaranteed Rent (MAG) (Thousands of euros) FIRST HALF THIRD QUARTER CUMULATIVE TO SEPTEMBER Business areas Variation Variation Variation Variation Variation Variation 2019 2022 2023 2023/2022 2023/2019 2019 2022 2023 2023/2022 2023/2019 2019 20
Slide 15: OPEX
OPEX 15 OPEX1 Aena Group (€m): +5.1% Aena (excluding Luton, ANB and BOAB) 1,566.5 1,646.5 8.0 The evolution of OPEX reflects: Luton 1,301.5 104.5 146.8 139.6 118.9 115.9 • the effect of increased activity and the full Northeast Brazil Airport Group (ANB) opening of terminals and airport spaces; 1,18
Slide 16: Breakdown of Other Operating Expenses for the Network in Spain
Breakdown of Other Operating Expenses for the Network in Spain1 16 First Half Third Quarter Cumulative to September €m Var. Var. Var. Var. Var. Var. 2019 2022 2023 2019 2022 2023 2019 2022 2023 2023/2022 2023/2019 2023/2022 2023/2019 2023/2022 2023/2019 Passengers (m) 127.9 104.9 129.5 24.5 23.4% 1.
Slide 17: Cash generated. Aena S.M.E., S.A. debt
Cash generated. Aena S.M.E., S.A. debt 17 Net Cash from Operating Activities Debt breakdown by type and average (€m): +22.2% interest rate for the period Net Financial Debt/EBITDA1 2.4x 3.00x 2.38x Fixed Variable 2019 2022 9M 2023 2.07% Average rate 1.04% 1,913.9 1,904.2 20% 27% 1,558.3 73% 80% 9M 2
Slide 18: Luton
Luton 18 Passengers (m) Revenue (£m) Recovery of 90.0% of Aeronautical revenue 2019 traffic. increased 36.4% to 226.6 £105.7 million. 13.9 173.3 171.0 12.5 Commercial revenue grew 9.9 by 29.3% to £120.9 million. 9M 2019 9M 2022 9M 2023 9M 2019 9M 2022 9M 2023 EBITDA (£m) EBITDA margin 39.4% 42.2% 42
Slide 19: Northeast Brazil Airport Group (ANB)
Northeast Brazil Airport Group (ANB) 19 Passengers (m) Revenue (R$m) Recovery of 104.9% of Aeronautical revenue 2019 traffic. increased by 15.3% to 911.0 R$237.8m. Commercial 10.3 10.4 10.8 revenue increased by 7.8% to 712.2 R$104.6m. Construction service revenue (IFRIC 12) reached R$568.6m as a res
Slide 20: Financial results
01 02 03 04 Key Business Financial Appendices highlights trends results
Slide 21: Income statement
Income statement 21 €m 9M 2023 9M 2022* Variation €m Variation % Ordinary revenue 3,739.9 3,112.9 627.1 20.1% Airports: Aeronautical 2,082.6 1,786.0 296.6 16.6% Airports: Commercial 1,127.8 911.4 216.4 23.7% Real Estate Services 75.9 64.5 11.4 17.7% Región de Murcia International Airport 11.3 8.6 2.
Slide 22: Cash Flow Statement
Cash Flow Statement 22 €m 9M 2023 9M 2022 Variation €m Variation % Profit/(loss) before tax 1,509.7 863.2 646.5 74.9% Depreciation and amortisation 603.9 593.4 Write-off of financial assets 11.4 16.9 Variation in working capital -16.3 140.8 Financial results 61.9 90.9 Impairment of fixed assets -6.3
Slide 23: Appendices
01 02 03 04 Key Business Financial Appendices highlights trends results
Slide 24: Appendix. Other financial information. Key figures. Quarterly trends
Appendix. Other financial information. Key figures. Quarterly trends 24 First Quarter Second Quarter Third Quarter Total €m 2023 2022* Var. 2023 2022* Var. 2023 2022* Var. 2023 2022* Var. 1 Consolidated Traffic (thousands of passengers) 60,648.5 43,387.7 39.8% 83,472.5 73,954.6 12.9% 95,836.0 87,094
Slide 25: Appendix. Other financial information. Statement of financial position
Appendix. Other financial information. Statement of financial position 25 €m 9M 2023 2022 €m 9M 2023 2022 Property, plant and equipment 11,889.1 12,096.2 Share capital 1,500.0 1,500.0 Intangible assets 1,568.9 806.7 Share premium 1,100.9 1,100.9 Real estate investments 134.4 133.9 Retained earnings/
Slide 26: Appendix. Other financial information. Aena S.M.E., S.A. debt
Appendix. Other financial information. Aena S.M.E., S.A. debt 26 Maturity schedule of Aena’s long-term debt1 Total: €7,303.6m Average life: 6.3 years Net Financial Debt (€m) Debt (€m) % of debt 2.5% 23.9% 16.1% 10.6% 12.1% 34.6% 2,525 €m 9M 2023 2022 1,746 Gross financial debt 7,640 7,227 1,177 Cash
Slide 27: Appendix. Passenger data by airport groups
Appendix. Passenger data by airport groups1 27 9M 2022 9M 2023 Traffic 9M 2023 vs 9M 2022 Adolfo Suárez Barcelona-El Prat Palma Canary Islands (m Passengers) Group I Group II2 Group III Aena Madrid-Barajas Josep Tarradellas de Mallorca Group 22.1% 21.7% 8.8% 13.1% 18.1% 20.3% 24.3% 17.6% Passengers
Slide 28: Appendix. Passenger data by airport groups
Appendix. Passenger data by airport groups1 28 9M 2019 9M 2023 Traffic 9M 2023 vs 9M 2019 Adolfo Suárez Barcelona-El Prat Palma Canary Islands (m Passengers) Group I Group II2 Group III Aena Madrid-Barajas Josep Tarradellas de Mallorca Group -3.5% -7.6% 3.4% 5.6% 8.1% -2.4% 16.8% 1.3% Passengers 214
Slide 29: Appendix. Traffic information
Appendix. Traffic information 29 Traffic by airline (top 10) Variation 9M 2023/9M 2022 Variation 9M 2023/9M 2019 Share (%) Passengers(1) Passengers(1) Passengers Carrier % Passengers % Passengers 9M 2023 9M 2022 9M 2019 9M 2023 9M 2022 9M 2019 Ryanair(2) 47,139,954 39,943,208 38,955,981 18.0% 7,196,
Slide 30: Appendix. Traffic information
Appendix. Traffic information 30 Traffic by origin/destination (top 15) Variation 9M 2023/9M 2022 Variation 9M 2023/9M 2019 Share (%) (1) (1) Passengers Passengers Passengers Country % Passengers % Passengers 9M 2023 9M 2022 9M 2019 9M 2023 9M 2022 9M 2019 Spain 70,730,430 61,729,171 65,580,452 14.6
Slide 31: Appendix: Other shareholdings: Trend in passenger traffic
Appendix: Other shareholdings: Trend in passenger traffic (m) 31 GAP(1) Exceeds 2019 traffic by +32.6% 47.7 41.3 36.0 9M 2019 9M 2022 9M 2023 Aerocali SACSA +20.7% compared to +12.3% compared to 2019 traffic 2019 traffic 5.5 4.8 5.6 4.3 5.1 4.2 9M 2019 9M 2022 9M 2023 9M 2019 9M 2022 9M 2023 1 Inclu
Slide 32: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures 32 In addition to the financial information prepared under the International Financial In the note relating to the financial information by business segment of the annual report, Reporting Standards adopted by the European Union (IFRS-EU), the reported fina
Slide 33: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures 33 2. Measures of the financial position Cash and cash equivalents Net Debt: The Net Debt is the main APM used by Management to measure the Definition contained on p. 7 of IAS 7 ‘Cash flow statement’. Company’s level of indebtedness. It is calculated as the
Slide 34: Thank you
Thank you Towards Sustainable Development Social Economic Environmental Development Development Sustainability Company committed to the United Nations Sustainable Development Goals (SDGs)